PPP Loan Data — Desco Industries Incorporated, Chino, CA

Desco Industries Incorporated

Entity: Partnership

Industry: All Other Miscellaneous Electrical Equipment and Component Manufacturing

Location: Chino, CA

Desco Industries Incorporated is a partnership located at 3651 Walnut Ave in Chino, California that received a Coronavirus-related PPP loan from the SBA of $4,588,000.00 in May, 2020.

The company has reported itself as a White owned business, and employed at least 330 people during the applicable loan loan period.

$ PPP Loan Information
Loan #4784597710

Loan Size:

$4.59M

Jobs Retained:

330

Loan Approved:

2020-05-01

Loan Status:

Paid in Full or Forgiven

Lender:

Wells Fargo Bank, National Association

Desco Industries Incorporated in Chino, CA received a Paycheck Protection Loan of $4.59M through Wells Fargo Bank, National Association, which was approved in May, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in August, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Desco Industries Incorporated's 2019 payroll expenses are estimated to be at least $22.02M.

Based on their reported 330 jobs retained, this equals an estimated average yearly compensation of $66,735 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Desco Industries Incorporated reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $4,588,000

Because the loan received by Desco Industries Incorporated is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Desco Industries Incorporated in Chino, CA

Desco Industries Incorporated
3651 Walnut Ave
Chino, CA 91710

Business Industry:
All Other Miscellaneous Electrical Equipment and Component Manufacturing
NAICS code 335999

Business Owner Demographics

Race: White

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

San Bernardino County, CA — SBA Office 0920 — Congressional District: CA-35

Similar Companies near Chino

In the Chino area, 3 businesses in the "All Other Miscellaneous Electrical Equipment and Component Manufacturing" industry received a PPP loan. These local businesses reported an average of 138 employees (compared to this company's 330) and received an average PPP loan of $1,876,680 (compared to this company's $4.59M).

Similar Nearby Businesses Who Received PPP Funding:

Scott Engineering Inc
Chino, CA

$1.03M PPP Loan

CPI Advanced Inc
Chino, CA

$8,790 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 2,286 businesses in the "All Other Miscellaneous Electrical Equipment and Component Manufacturing" industry received a total of $487.78M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 18 employees, 95% lower than Desco Industries Incorporated's reported 330 employees, and received an average PPP loan of $213,379, 95% lower than this company's loan of $4.59M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.

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